< href=https://enlightenergy.co.il/ target=new>Enlight Renewable Energy (TASE: ENLT; Nasdaq: ENLT) has become the first Israeli company to make an IPO on Wall Street in 2023, raising $252 million. On Friday, the company announced the pricing of its offering of 14,000,000 ordinary shares at $18 per share, which represents a modest discount of 6.5% on the company’s closing share price on the Tel Aviv Stock Exchange on Thursday of NIS 67.2. The offering values the company at some $2 billion. Enlight stated in the prospectus it published last week that it had received an indication from the Energy Transition Fund of BNP Paribas that it planned to invest $25 million in the company in the offering.
RELATED ARTICLES
Enlight buys electricity storage systems for $80m
Enlight began to be traded on Nasdaq on Friday under the ticker symbol ENLT. The company’s shares will continue to be traded in Tel Aviv, where Enlight has been listed since 2020. Enlight was the second renewable energy company to be floated on Wall Street last week, after Nextracker, which rose 27% on its first day of being traded. Enlight itself fell 1.93% on Friday. On the Tel Aviv Stock Exchange this morning, the share price is down by about 2%.
Enlight has granted the underwriters a 30-day option to purchase up to an additional 2,100,000 ordinary shares at the initial public offering price. If the option is exercised, it will raise a further $37.8 million.
The underwriters are J.P. Morgan, BofA Securities and Barclays, acting as lead book-running managers. Credit Suisse, Wolfe/Nomura Alliance and HSBC are acting as book-running managers, and Roth Capital Partners is acting as co-manager for the offering.
Enlight was founded in 2008. It builds and operates renewable energy projects in Israel Europe, and the US. The company’s CEO is co-founder Gilad Yavetz.
Published by Globes, Israel business news – en.globes.co.il – on February 12, 2023.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2023.
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsAzi is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
